ISLAMABAD - The imports of mobile phones decreased by 10.87 percent during the financial year 2018-19 as compared to the corresponding period of last year.

Pakistan imported mobile phones worth $755.545 million during July-June 2018-19 compared to the imports of $847.654 million during July-June 2017-18, showing negative growth of 10.87 percent, according to the latest data of PBS.

On year-on year basis, the imports of mobile phones witnessed negative growth of 34.18 percent in June 2019, when compared to the imports of the same month of last year. The mobile imports during June 2019 were recorded at $57.733 million against the imports of $87.717 million in June 2018.

Meanwhile, on month-on-month basis, the imports of mobile phones also witnessed negative growth of 12.27 percent during June 2019, when compared to the imports of $65.810 million during May 2018, according to the data.

It is pertinent to mention here that the country’s merchandize trade deficit plunged by 15.33 percent during the fiscal year 2018-19 compared to the corresponding period of last year.

The trade deficit contracted to $31.820 billion during July-June 2018-19 against the deficit of $37.583 billion recorded during July-June 2017-18.

The exports during the period under review witnessed decrease of one per cent by falling from $23.212 billion during last year to $22.979 billion during the ongoing fiscal year.

On the other hand, the imports declined by 9.86 percent to $54.799 billion during the period under review from $60.795 billion last year, the data revealed.

On year-on-year basis, the merchandize exports declined by 8.77 per cent, from $1.882 billion in June 2018 to $1.717 billion in June 2019 while the imports declined by 22.80 percent from $5.652 billion in June 2018 to $4.364 billion in June 2019, the data revealed.